Government wanted to accept EDF bid for British Energy

Fri Aug 1, 2008 1:39pm BST
 
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LONDON (Reuters) - The government was ready to accept a takeover offer by France's EDF for British Energy and still believes it is the right deal, business minister John Hutton said on Friday.

"We thought it was a good deal, we were ready to accept the deal," Hutton told BBC radio, noting the government's disappointment. "That wasn't the view of all of the shareholders and the government is only a minor shareholder in this publically listed company."

The government owns 35 percent of British Energy.

"I do remain convinced that this is the right deal," Hutton said.

(Reporting by Matt Falloon; Editing by Luke Baker)

 

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